The growth of the manganese market will be influenced by the growing construction industry that relies heavily upon steel use.
Construction operations worldwide are expected to expand after the easing of the delays caused by the coronavirus pandemic.
Overall, according to the Institute of Civil Engineers, the global construction market is projected to grow by US$8T by 2030, driven predominantly by the USA, China, and India.
Furthermore, the Asia Pacific is expected to dominate the growing construction industry with the rapid urbanization of developing countries.
The growing electric vehicle market will also influence the Manganese market growth, especially since cobalt and nickel typically have precarious international supply chains.
The skyrocketing demand for electric vehicles has already posed supply chain risks to cobalt and nickel, particularly considering an abundance of cobalt mines are found in the Democratic Republic of Congo, which is often fraught with political and human rights issues.
According to an article by Grist, fearing a supply shortage, the U.S. Department of Energy is now suggesting that there should be a solution to eradicate cobalt and nickel from batteries entirely.
The Argonne National Library is also currently devising strategies to reduce the amount of nickel used in lithium-ion battery cathodes.
They stated in a report that a manganese-rich cathode is less expensive and offers a safer alternative to one with higher nickel concentrations.
Still, they stated increasing the lithium and manganese proportions will make the cathode more unstable.
Argonne researchers are designing and testing new cathode structures, coatings and electrolyte additives that could help address this issue.
The rise in electric vehicles and the resumption of construction activities across the globe is triggering healthy growth in the manganese market.
